This sums up much of my thinking - I hold a few and swing trade a few and even trade intraday sometimes ......

I think there is a lot of slack that management can cut out of the costs and would also anticipate sector consolidation ..... good value currently and have been holding their own in a falling market. Lot of US interest.

ains


Edited by Dominic White
(Filed: 08/02/2003)


Texting makes MmO2 sexy but it's also risky

More and more Britons are discovering the joys of textual intercourse. In the month of December, we fired off more than 50m mobile messages a day, and next Friday (that's Valentine's Day, folks, in case you'd forgotten) we'll send considerably more than that.



It emerged this week that the chief beneficiary of this craze is MmO2 . BT's former mobile phone division revealed that it gets a higher proportion of revenues from texting than any of the other three operators.

Revenue from messaging grew at its fastest rate ever in the last quarter, up 19pc, and data services as a proportion of MmO2 's revenue rose to 17.7pc from 15.6pc.

More good news was the rise in MmO2 's average revenues per customer. ARPUs, as nerdy analysts like to dub them, grew by 5pc to 243 in the UK and by 9pc in Germany to 212.

MmO2 now has 19.1m subscribers and in Britain it may be the smallest player, with 11.9m users, but it is growing faster than its rivals - testament to the success of its rebranding from BT Cellnet.

Only 114,000 of its 503,000 new UK subscribers were higher-spending contract customers, but MmO2 claims its pre-pay customers have started spending more than before.

Customer growth in Germany, which continues to be dominated by T-Mobile and Vodafone, is less impressive and the MmO2 share price ascribes little or no value to this part of the business.

That seems unfair, given the fact that the group has attracted higher-spending customers and has made a decent fist of turning the operation around. An eventual sale or merger is almost as inevitable as a disposal of the Dutch unit, which is losing customers.

MmO2 's larger rival Vodafone is trading on a free cashflow yield of 6pc, while at 49p this week, MmO2 's equivalent valuation remains negative. It might not have Vodafone's scale or profitability but there is room for upside. A risky buy.

I wasn't far out - thought just sub 50p but pleased they are marginally over 50p ..... looks good for tomorrow all things being equal. 11 mill trade on the bell


ains

Yes a close @offer of 50.25 would have been better. However, I'm concerned at falling US mkt.

Cannot see any obvious news other than the Nokia thingy but we are well up @ 4% intraday - ahead of sector @ just 0.3% and the market which is down half a percent. NAS futures are up 4.5 points - volumes on OOM are averahe @ 22 million shares.

ains

Thu 10 Apr 2003


LONDON (SHARECAST) - Investors in telecoms company mmO2 and accountancy software group Sage have Merrill Lynch to thank after it reiterated a neutral and buy stance on the companies respectively.

Shares in Man Group were given a lift today after the investment group said that its most recent global launch attracted record sales of $725m. Merrill The launch is the largest Man has ever achieved.

FTSE 100 - Risers

mmO2 (OOM) 51.75p +3.50%

L2? So ML retains Neutral stance on OOM↑4.5% & it has this effect! Wish it was BUY which it would've been if KPN issue was resolved. Hastily disposed of some yesterday :(

bad luck


difficult to see where next - been level for 2 hours







Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (51.61%) 16 (41.74%) 2,310,872 51.72 - 52.58 3,225,781 (58.26%) 15 (48.39%)
5% (50.00%) 24 (46.71%) 4,743,631 51.36 - 52.79 5,411,620 (53.29%) 24 (50.00%)
10% (50.88%) 29 (46.00%) 5,180,677 51.28 - 52.93 6,081,520 (54.00%) 28 (49.12%)
15% (50.75%) 34 (45.81%) 5,844,818 50.94 - 53.18 6,913,297 (54.19%) 33 (49.25%)
50% (52.05%) 38 (49.19%) 6,700,375 50.31 - 53.19 6,921,601 (50.81%) 35 (47.95%)
100% (52.56%) 41 (49.08%) 6,720,495 50.26 - 53.27 6,972,293 (50.92%) 37 (47.44%)
all (51.90%) 41 (49.07%) 6,720,495 50.26 - 53.33 6,976,293 (50.93%) 38 (48.10%

Now it's broken to above the 52 level would you firmlly predict further rise up to mid 50's and what would you predetermine to be your entry/exit point & how dependent on US mkt? Alot of Large Sells going through! I sincerely hope it withstands them!

I think they will easily outperfor the market and the sector and added a few yesterday

Well done, you did'nt tell me you prediced this! What Qty & Price did you top up at?

it was only a few - not really significant but I am holding quite a lot now .... I did say I wasn't ready to sell just yet but prepared to ride out the little dips

A shame the FTSE is suffering as now it's affected MM02. It'd better not close < 52!

sector is off 0.64 - market 0.81p - very heavy volume






Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (51.61%) 16 (41.74%) 2,310,872 51.72 - 52.58 3,225,781 (58.26%) 15 (48.39%)
5% (50.00%) 24 (46.71%) 4,743,631 51.36 - 52.79 5,411,620 (53.29%) 24 (50.00%)
10% (50.88%) 29 (46.00%) 5,180,677 51.28 - 52.93 6,081,520 (54.00%) 28 (49.12%)
15% (50.75%) 34 (45.81%) 5,844,818 50.94 - 53.18 6,913,297 (54.19%) 33 (49.25%)
50% (52.05%) 38 (49.19%) 6,700,375 50.31 - 53.19 6,921,601 (50.81%) 35 (47.95%)
100% (52.56%) 41 (49.08%) 6,720,495 50.26 - 53.27 6,972,293 (50.92%) 37 (47.44%)
all (51.90%) 41 (49.07%) 6,720,495 50.26 - 53.33 6,976,293 (50.93%) 38 (48.10%

Most of those BUYS orders should have been taken out now and replaced with more.

still undecided - market getting worse

Bloody idiot closed @50.75 despite after close BUYS going in nr 52 level. Pathetic 1.4M sell allowed at discount yet again to closing bid. Very upset after 52.75 high earlier on!

April 11, 2003

Rumour of the day



The latest resurfacing of talk that mm02 may merge its German business with that of KPN, the Dutch owner of E-Plus, helped the mobile operator up 2p at 52p at its best. It closed just p ahead at 50p, despite a parallel tale that Hong Kongs Hutchison is considering a bid in an effort to add a 2.5G network to its 3G operations.

L2? What's likely for today because despite US ending +ve yesterday this is not appreciating like yesterday which I dearly would like it to in the afternoon. What is the source of the above? Also why did the price↓so much Thu if L2 was level & hence AT Buys should have it↑?

Today despite opening up around 51 level and holding it @09:15 forced↓to 50 as FTSE weakened!

Times rumour of the day

markets are undecided about the effects of 'winning'

sell orders have it on sets at the moment

US futures down a little - nas -2


ains




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (56.25%) 9 (58.13%) 973,758 49.68 - 50.42 701,433 (41.87%) 7 (43.75%)
5% (55.17%) 16 (57.49%) 1,705,034 49.43 - 50.74 1,260,810 (42.51%) 13 (44.83%)
10% (47.62%) 20 (39.75%) 2,377,760 49.10 - 51.40 3,604,451 (60.25%) 22 (52.38%)
15% (42.86%) 24 (42.36%) 3,327,353 47.99 - 51.94 4,526,814 (57.64%) 32 (57.14%)
50% (42.11%) 24 (42.36%) 3,327,353 47.99 - 51.94 4,527,514 (57.64%) 33 (57.89%)
100% (42.19%) 27 (42.19%) 3,347,473 47.91 - 52.10 4,586,510 (57.81%) 37 (57.81%)
all (41.54%) 27 (42.17%) 3,347,473 47.91 - 52.19 4,590,510 (57.83%) 38 (58.46%

L2? 6.6M worth of BUYS have just gone through. Hope this closes above 52 like should've Thu.

Rumours still persist - Investec says they imply a valuation of 860/1500 million for the German unit - this would give a min valuation currently of 57p for OOM



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (65.38%) 17 (55.21%) 1,473,021 50.54 - 51.34 1,194,852 (44.79%) 9 (34.62%)
5% (60.53%) 23 (48.73%) 2,300,407 50.31 - 51.66 2,419,895 (51.27%) 15 (39.47%)
10% (62.07%) 36 (62.89%) 4,214,164 49.87 - 51.70 2,486,198 (37.11%) 22 (37.93%)
15% (56.72%) 38 (58.00%) 4,614,164 49.69 - 52.29 3,341,911 (42.00%) 29 (43.28%)
50% (58.57%) 41 (62.05%) 5,463,757 48.96 - 52.29 3,341,911 (37.95%) 29 (41.43%)
100% (57.14%) 44 (61.72%) 5,483,877 48.91 - 52.50 3,400,907 (38.28%) 33 (42.86%)
all (56.41%) 44 (61.69%) 5,483,877 48.91 - 52.62 3,404,907 (38.31%) 34 (43.59%